U.S. Government News Headlines - Yahoo! News
U.S. investment banker gets 11 years in prison for stock scam
Jason Galanis, 46, admitted last year to securities fraud, investment adviser fraud and two conspiracy charges in connection with the scheme to manipulate shares in the now defunct reinsurer, Gerova Financial Group Ltd . Galanis then allegedly bribed investment advisers to buy Gerova shares for their own clients, and through coordinated trading sold Gerova shares from the straw holder's account in a scheme that generated nearly $20 million in profits, prosecutors said. U.S. District Judge Kevin Castel in Manhattan sentenced Galanis to 11 years and three months in prison and ordered him to forfeit nearly $38 million, a mansion in Bel Air, California, and a $7 million apartment in New York.
For California community in dam's shadow, troubles go back decades
For nearly 50 years, the Oroville Dam has provided a water lifeline to residents across the state of California. Butte County and green groups have fought the relicensing of the Oroville Dam for more than a decade. Oroville’s reservoir plays a vital role in capturing water from California’s rainy, mountainous north and distributing it to agricultural lands, industrial tracts, and homes from the Bay Area to Southern California.
Harvard, MIT research institute holds on to gene-editing patent rights
The Broad Institute, a biological and genomic research center affiliated with MIT and Harvard, will keep valuable patents on a revolutionary gene-editing technology known as CRISPR, a U.S. patent agency ruled on Wednesday. The U.S. Patent and Trademark Office's Patent Trial and Appeal Board in Alexandria, Virginia, rejected a claim by a rival team, associated with the University of California at Berkeley and University of Vienna in Austria, that they invented the technology first.
Illinois governor offers tax-hike guidance to end stalemate
SPRINGFIELD, Ill. (AP) — Gov. Bruce Rauner gave more specifics Wednesday on what steps he'd accept to end the state's nearly two-year budget stalemate, telling lawmakers he's open to raising taxes on services such as car repairs or haircuts but not on food, medicine or retirement income.
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